king3x92

king3x92 Updated 

Calling the top again!

king3x92

Will we see a repeat of 2018 in 2020? The kind that will shake the faith of the Fed Flock? Or will we blow past 3200 in a Santa Rally? OPEX will have the answers for us.

king3x92

Is this how we complete the right shoulder of the H&S formation that's been forming since April?

king3x92

Looks like we're going to be bouncing in range for a little while as we form this right shoulder -- after the Fed cut, we should see some action that could take out the neckline of this H&S to god knows where. Safe trading everyone.

king3x92

We've bounced off the long-term bull trend support twice in the overnight session and today, the Friday of a very ominous weekly candle, will be a very important day for the market. If we break through, expect a march back down to 278-282. If we stay above it, expect some waffling in the 288-294 zone anyways -- fear is back.

king3x92

At the time of this writing, looks like the play is to short; be careful on the long side though, wait for confirmation, because there's a ton of momentum on the downward edge of this box and we don't know when it's going to break.

king3x92

Will this break?

king3x92

We're fast approaching the end of this formation; on top of the head and shoulders that's been forming since early 2018, where is the market going to go in the intermediate term?